UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
SCHEDULE 13G
Under the Securities Exchange
Act of 1934
(Amendment)
NAME OF ISSUER RSL
Communications LTD
TITLE OF CLASS OF SECURITIES Common
CUSIP NUMBER G7702U10
The remainder of this cover page shall be filled out for
a reporting person's initial filing on this form with
respect to the subject class of securities, and for any
subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover
page shall not be deemed to be "filed" for the purpose
of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
Page 1 of 10 Pages
13G
CUSIP No. G7702U102 Page 2
of 10 Pages
- --------------------------------------------------------
- ---------------------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person
Marsh & McLennan Companies, Inc.
36-2668272 ----------------------------------------
- -------------------------------------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( ) ---------------------------
- --------------------------------------------------
3. SEC use only
- --------------------------------------------------------
- ---------------------
4. Citizenship or place of organization
Delaware ------------------------------------------
- -----------------------------------
5.
Sole Voting Power
NONE ----------------
-------------
Number of shares ) 6. Shared
Voting Power
Beneficially )
Owned by each ) NONE
Reporting ) ---------------------
- --------
Person with: ) 7. Sole
Dispositive Power
NONE ----------------
-------------
8.
Shared Dispositive
Power
NONE ----------------
- --------------------------------------------------------
- -----
9. Aggregate amount beneficially owned by each
reporting person
NONE ----------------------------------------------
- -------------------------------
10. Check box if the aggregate amount in row (9)
excludes
certain shares*
- --------------------------------------------------------
- ---------------------
11. Percent of class represented by amount in row 9
NONE ----------------------------------------------
- -------------------------------
12. Type of Reporting person*
HC ------------------------------------------------
- -----------------------------
13G
CUSIP No. G7702U102 Page 3
of 10 Pages
- --------------------------------------------------------
- ---------------------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person
Putnam Investments, Inc.
04-2539558 --------------------------------------
- ---------------------------------------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( )
- --------------------------------------------------------
- ---------------------
3. SEC use only
- --------------------------------------------------------
- ---------------------
4. Citizenship or place of organization
Massachusetts --------------------------------
- ---------------------------------------------
5.
Sole Voting Power
NONE
Number of shares ) ----------------
- ------------
- -
Beneficially ) 6. Shared
Voting Power
owned by each )
15,250
Reporting )
Person with: ) --------------------------
- ---
7.
Sole Dispositive
Power
NONE ----------------
-------------
8.
Shared Dispositive
Power
2,768,550 -----------
- --------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each
reporting person
2,768,550
- --------------------------------------------------------
- ---------------------
10. Check box if the aggregate amount in row (9)
excludes
certain shares*
- --------------------------------------------------------
- ---------------------
11. Percent of class represented by amount in row 9
5.2% ------------------------------------
- -----------------------------------------
12. Type of Reporting person*
HC ----------------------------------------------
- -------------------------------
13G
CUSIP No. G7702U102 Page 4
of 10 Pages
- --------------------------------------------------------
- ---------------------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person
Putnam Investment Management, Inc.
04-2471937 --------------------------------------
- ------------------------------
- ----------
2. Check the appropriate box if a member of a
group*
(a)( ) (b)( ) ----------------------
- -------------------------------------------------------
3. SEC use only
- --------------------------------------------------------
- ---------------------
4. Citizenship or place of organization
Massachusetts -------------------------------------
- ----------------------------------------
5.
Sole Voting Power
NONE
Number of shares ) ----------------
- ------------
- -
Beneficially ) 6. Shared
Voting Power
Owned by each )
Reporting ) NONE
Person with: ) --------------------------
- ---
7.
Sole Dispositive
Power
NONE ----------------
-------------
8. Shared
Dispositive Power
2,644,300 -----------
- --------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each
reporting person
2,644,300 ------------------------------------
- -----------------------------------------
10. Check box if the aggregate amount in row (9)
excludes
certain shares*
- --------------------------------------------------------
- ---------------------
11. Percent of class represented by amount in row 9
5.0% -----------------------------------------
- ------------------------------------
12. Type of Reporting person*
IA ---------------------------------------------
- ----------------------
----------
13G
CUSIP No. G7702U102 Page 5
of 10 Pages
- --------------------------------------------------------
- ---------------------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person
The Putnam Advisory Company, Inc.
04-6187127
- --------------------------------------------------------
- ---------------------
2. Check the appropriate box if a member of a
group*
(a)( ) (b)( )
- --------------------------------------------------------
- ---------------------
3. SEC use only
- --------------------------------------------------------
- ---------------------
4. Citizenship or place of organization
Massachusetts ---------------------------
- --------------------------------------------------
5.
Sole Voting Power
NONE
Number of shares ) ----------------
- ------------
- -
Beneficially ) 6. Shared
Voting Power
Owned by each )
Reporting ) 15,250
Person with: ) --------------------------
- ---
7.
Sole Dispositive
Power
NONE ----------------
-------------
8.
Shared Dispositive
Power
124,250 -------------
- --------------------------------------------------------
- --------
9. Aggregate amount beneficially owned by each
reporting person
124,250 ---------------------------------
- --------------------------------------------
10. Check box if the aggregate amount in row (9)
excludes certain shares*
- --------------------------------------------------------
- ---------------------
11. Percent of class represented by amount in row 9
0.2% ----------------------------------------------
- -------------------------------
12. Type of Reporting person*
IA ---------------------------------------------
- --------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
20549
SCHEDULE 13G
Under the Securities Exchange
Act of 1934
Item 1(a) Name of Issuer: RSL
Communications PLC
Item 1(b) Address of Issuer's Principal
Executive Offices:
Clarence house, Church Street, Hamilton HM CX BERMU
DO
Item 2(a) Item 2(b)
Name of Person Filing:
Address or
Principal Office or,
if NONE, Residence:
Putnam Investments, Inc. One Post Office
Square
("PI") Boston,
Massachusetts 02109
on behalf of itself and:
*Marsh & McLennan Companies, Inc. 1166 Avenue of
the Americas
("MMC") New York, NY
10036
Putnam Investment Management, Inc. One Post Office
Square
("PIM") Boston,
Massachusetts 02109
The Putnam Advisory Company, Inc. One Post Office
Square
("PAC") Boston,
Massachusetts 02109
Item 2(c) Citizenship: PI, PIM and PAC are
corporations
organized under Massachusetts law. The
citizenship of other persons identified
in Item 2(a) is designated as follows:
* Corporation - Delaware law
** Voluntary association
known as
Massachusetts business trust -
Massachusetts law
Item 2(d) Title of Class of Securities: Common
Item 2(e) Cusip Number: G7702U102
Page 6 of 10 Pages
Item 3. If this statement is filed pursuant to Rules
13d-1(b), or
13d-2(b), check whether the person filing is a:
(a)( ) Broker or Dealer registered under Section 15
of the Act
(b)( ) Bank as defined in Section 3(a)(6) of the Act
(c)( ) Insurance Company as defined in Section
3(a)(19) of the Act
(d)( ) Investment Company registered under Section 8
of the Investment Company Act
(e)( X ) Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940
(f)( ) Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see (Section
240.13d-1(b)(1)(ii)(F)
(g)( X ) Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G)
(h)( ) Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
Page 7 of 10 Pages
<TABLE><CAPTION>
Item 4.
Ownership.
<S> <C> <C> <C> <C>
M&MC PIM* PAC PI
----- ----- ---
---(Parent holding (Investment advisers
(Parent company company to PI) & subsidiaries of PI)
to PIM and PAC)
(a) Amount Beneficially
Owned: NONE 2,644,300 + 124,250 =
2,768,550
(b) Percent of Class: NONE 5.0% + 0.2% =
5.2%
(c) Number of shares as
to which such person has:
(1) sole power to vote
or to direct the vote;
(but see Item 7) NONE NONE NONE
NONE
(2) shared power to vote
or to direct the vote;
(but see Item 7) NONE NONE 15,250
15,250
(3) sole power to dispose
or to direct the
disposition of;
(but see Item 7) NONE NONE NONE
NONE
(4) shared power to
dispose or to direct
the disposition of;
(but see Item 7) NONE ALL ALL
ALL
Page 8 of 10 Pages
</TABLE>
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as
of the date thereof the reporting person has
ceased to be the beneficial owner of more than
five percent of the class
of securities, check the following ( ).
Item 6. Ownership of More than Five/Ten
Percent on Behalf
of Another Person:
No persons other than the persons filing this
Schedule 13G have an economic interest in the
securities reported on which relates to more
than five percent of the class of securities.
Securities reported on this Schedule 13G as
being beneficially owned by M&MC and PI consist
of securities beneficially owned by subsidiaries
of PI which are registered investment advisers,
which in turn include securities beneficially
owned by clients of such investment advisers,
which clients may include investment companies
registered under the Investment Company Act
and/or employee benefit plans, pension funds,
endowment funds or other institutional clients.
Item 7. Identification and Classification of
the
Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding Company.
PI, which is a wholly-owned subsidiary of M&MC,
wholly owns two registered investment advisers:
Putnam Investment Management, Inc., which is the
investment adviser to the Putnam family of
mutual funds and The Putnam Advisory Company,
Inc., which is the investment adviser to
Putnam's institutional clients. Both
subsidiaries have dispository power over the
shares as investment managers, but each of the
mutual fund's trustees have voting power over
the shares held by each fund, and The Putnam
Advisory Company, Inc. has shared voting power
over the shares held by the institutional
clients. Pursuant to Rule 13d-4, M&MC and PI
declare that the filing of this Schedule 13G
shall not be deemed an admission by either or
both of them that they are, for the purposes of
Section 13(d) or 13(g) the beneficial owner of
any securities covered by this Section 13G, and
further state that neither of them have any
power to vote or dispose of, or direct the
voting or disposition of, any of the securities
covered by this Schedule 13G.
Item 8. Identification and Classification of
Members of
the Group:
Not applicable.
Item 9. Notice of Dissolution of Group:
Not applicable.
Item 10. Certification.
Page 9 of 10 Pages
By signing below I certify that, to the best of
my knowledge and belief, the securities referred
to above were acquired in the ordinary course of
business, were not acquired for the purpose of
and do not have the effect of changing or
influencing the control of the issuer of such
securities and were not acquired in connection
with or as a participant in any transaction
having such purposes or effect.
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the
information set forth in this statement is true,
complete and correct.
PUTNAM INVESTMENTS, INC.
/s/Andrew J. Hachey
BY: -------------------------------
-----------Signature
Name/Title: Andrew J. Hachey
Assistant Vice President and
Regulatory Compliance Counsel
Date: August 5, 1999
For this and all future filings, reference is
made to Power of Attorney dated April 30, 1999,
with respect to duly authorized signatures on
behalf of Marsh & McLennan Companies, Inc.,
Putnam Investments, Inc., Putnam Investment
Management, Inc., The Putnam Advisory Company,
Inc. and any Putnam Fund wherever applicable.
For this and all future filings, reference is
made to an Agreement dated June 28, 1990, with
respect to one filing of Schedule 13G on behalf
of said entities, pursuant to Rule 13d-1(f)(1).
Page 10 of 10 Pages
